Full Annual Report - Inchcape

Section Two
Two
Governance
of interest to them.At the meeting the Company complies with the
Code as it relates to voting, the separation of resolutions and the
attendance of Committee Chairmen. In line with the Code, details
of proxy voting by shareholders, including votes withheld, are made
available on the Company’s website following the meeting.
The Board is provided with regular updates on the views and issues
raised by the Company’s investors. During the year, the Board
received external presentations from advisors, including the
Company’s brokers, on shareholder and market perception of the
Company’s strategy.
Analyst coverage
We are aware of 12 analysts who have regularly published notes
on Inchcape during 2009 and we provide names of these analysts,
their firms and contact details on our website.
Total shareholder return (TSR)
The following graph illustrates the Group’s TSR over a five year
period, relative to the performance of the total return index of the
FTSE mid-250 group of companies (excluding investment trusts).TSR
is essentially share price growth plus re-invested dividends.The FTSE
mid-250 has been chosen as the most suitable comparator group
as it is the general market index in which the Company appears.
Historical TSR performance
200
150
represents an average of 0.54% of the Company’s shares traded each
day (2008: 0.49% adjusted for the bonus element of the Rights Issue).
Share price by volume during 2009
Volume
900,000
800,000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
Apr
09
Source: Datastream
May
09
Jun
09
Jul
09
Share consolidation
On 10 March 2010, we proposed a 1 for 10 share consolidation to
lessen the volitility the current level of share price generates and to
decrease the cost of dealing in shares.This will reduce the shares in
issue from approximately 4.6bn with a nominal value of 1.0p to
approximately 460m shares with a nominal value of 10.0p.The
share consolidation is subject to approval by shareholders at the
Annual General Meeting to be held on 13 May 2010.
Aug
09
Sep
09
Oct
09
Nov
09
Price (p)
35
Dec
09
30
25
20
15
10
5
100
50
0
Dec 04
Dec 05
Dec 06
Dec 07
Inchcape FTSE mid 250 excluding investment trust
Source: Datastream
Dec 08
Dec 09
Growth in the value of a hypothetical £100 Holding over five years
FTSE 250 (excluding investment companies) comparison based on
30 trading day average values.
Electronic communications
Inchcape is committed to reducing its impact on the
environment and the Company would like to encourage
shareholders to receive communications electronically
reducing printing and paper usage.
Shareholders can register for email alerts at
www.inchcape.com/email
However investors are able to receive communications in
the form most appropriate to their needs and are entitled
to change the way in which they receive shareholder
communications at any time.
Dealing in Inchcape shares
The Company’s ordinary shares are listed on the London Stock
Exchange. Prices are reported daily in the Financial Times and on
our website. For further information please call Computershare
Investor Services on +44 (0) 870 707 1076.
The share price by volume during 2009 graph shows the steady
growth in the share price since the Rights Issue closing at 29.85p
as at 31 December 2009.The Company’s shares trade within
the FTSE 250 index and at the year end was ranked 136 in the
FTSE 350 index by market capitalisation (2008: 342).The Company’s
market capitalisation at 31 December 2009 was £1,374.3m, an
increase of over eight times its market capitalisation of £169.2m
at 31 December 2008.The average number of shares traded on
the London Stock Exchange daily was 24.7m (2008: 22.5m).This
www.inchcape.com 63